After retiring from driving at the end of the 1993 season, four-time Formula 1 World Champion Alain Prost realised a long-held ambition to start his own team. A deal to take over Ligier was announced in February 1997, and for that season he ran what was essentially a rebranded Ligier. It was successful, though, with Oliver Panis twice finishing on the podium before a crash in Canada ended his season.

For 1998, the Prost team introduced its own car, the AP01, which would be powered by a Peugeot V-10 engine and driven by Panis and Italian youngster Jarno Trulli. The season was not a success so, during that summer, Prost turned to design genius John Barnard. The two men had enjoyed huge success while they were working together at McLaren in the 1980s, and Barnard agreed to come on board as technical consultant.

Working with the French-based design team of Bernard Dudot and Loïc Bigois, he helped to develop the new AP02 in time for the 1999 season. Peugeot engines were used again, while Panis and Trulli were retained as drivers, and the package offered a definite step forward compared to the 1998 car. The highlight of the season came at the European Grand Prix, where Trulli finished 2nd behind winner Johnny Herbert.

The car being offered for sale is chassis number 03, which was driven by Panis in the first four races of the season: Australia, Brazil, San Marino and Monaco. The Frenchman’s best result came in the Brazilian Grand Prix at Interlagos. After qualifying in 12th position, just ahead of teammate Trulli, he came through to cross the line in 6th—which, in that era, was the final points-scoring position. That result helped the Prost team to finish 7th in the season-long Constructors’ Championship.

Chassis 03 was also taken as a spare car to that year’s French and British Grands Prix, following which it was used for display and marketing purposes. After being sold in 2021 as a rolling chassis, but with a gearbox and Peugeot A18 V-10 engine as part of its then-extensive spares package, this Prost AP02 was entrusted to LRS Formula at Magny-Cours so that it could be fully restored.

The process took two years and included X-raying critical areas such as suspension and steering components, and replacing parts such as brake discs, dampers and gear shifters, among a great many others. The electronics and all associated control modules are new and were made by renowned French race team ORECA, a new fuel tank was fitted, and a new gearbox was built using original parts. In fact, all of the new parts that were needed were sourced from original stocks of Prost Grand Prix components.

The Peugeot engine was fully rebuilt and the car, which retains its original bodywork, was returned to its correct 1999 livery. The extinguisher system and safety harnesses are new, and this Prost AP02 is now ready for immediate use. It comes with two extra front wheels and a spare gearbox housing, while LRS Formula has a range of parts that will help with future maintenance. The car is also to be offered with a starting kit, to be sourced at the seller's expense.

Presented in patriotic blue and with points-scoring race history in the hands of Grand Prix winner Olivier Panis, the car represents a wonderful opportunity to acquire a piece of French Formula 1 history.